In her latest bid to address prescription drug prices, U.S. Sen. Elizabeth Warren (D-Mass.) is urging the U.S. Federal Trade Commission to “closely scrutinize” two pending pharmaceutical company mergers over concerns that “rampant consolidation” will drive up costs for consumers.
One deal involves Amgen, which plans to pay $28.7 billion to acquire Horizon Therapeutics, a company that markets treatments for autoimmune disorders and recently generated takeover interest from a few large drug companies. The other deal involves two companies that have been involved in the opioid business; Indivior plans to buy Opiant for $145 million.
“Given these companies’ records of anti-competitive business practices, these acquisitions could cause further price increases on life-saving drugs and prevent affordable alternatives from entering the market. The FTC should carefully scrutinize these deals and oppose any Big Pharma acquisition that will threaten competition, reduce innovation, or increase costs for American families,” Warren wrote.
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